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20260920 093000 UTC
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[00:00:24] news, wherever
[00:00:25] of the big news stories happening, we get up
[00:00:28] to.
[00:00:37] of
[00:00:47] Hello there and thank you so much for joining us, it's Friday's edition
[00:00:50] of of Business Nigeria, now these are the stories we're tracking for you at this
[00:00:54] time, Nigeria, France reaffirms commitment to
[00:00:58] stronger bilateral ties. Nigeria's gas flaring rates
[00:01:02] rose to 7.48% in August
[00:01:05] 2026. Bank of Japan raises rates to
[00:01:08] 1.25%, highest in 31
[00:01:13] of in years. Well again, gold is bouncing back today as we
[00:01:17] wrap the week up and is staying at
[00:01:19] $4,430.80 cents for an ounce of
[00:01:23] gold while silver is $6.7.22 uh the
[00:01:27] change in both
[00:01:27] of these commodities we have positive 31.1. zer silver is
[00:01:31] 1.12 and a 0.71 percentage points for
[00:01:34] gold that's positive and silver is
[00:01:37] 1.69% also for silver coper is
[00:01:41] $664 - 2.15 it's down
[00:01:44] 0.32% points platinum is
[00:01:48] of $1,811.95 positive
[00:01:50] 38.18 and
[00:01:52] of is 2.15 percentage points also in
[00:01:55] green but corn wheat and coco down they
[00:01:59] a are in
[00:01:59] red to. day let's start with coco that is trading at $577
[00:02:03] that's $5,772 for a metric
[00:02:07] of turn and it's 3.46% down the change is
[00:02:10] 207.0 that's pretty significant uh
[00:02:14] wid
[00:02:14] of is down 0.93 6.75 that's the difference and
[00:02:18] it's $720.25 for metric turn of width
[00:02:22] con is $5.28.50 it's in red
[00:02:25] 0.38 and it's
[00:02:27] of negative of 2.00 of caught
[00:02:29] of in his. $2.30 it's in green
[00:02:32] 0.16 and 0.13
[00:02:35] positive that says for cutting now Asian stocks
[00:02:39] rose today as investors weighed on global efforts to
[00:02:43] contain inflation while Japan's latest rate hike
[00:02:46] delivered with
[00:02:47] a dovish in tilt uh
[00:02:49] a wicking the yearn now the drop in the yearn helped them
[00:02:52] Nickel uh to rise nearly 2%.
[00:02:56] That's it Japanese and two-year government bond.
[00:03:00] in yield, which are most sensitives to monetary policy
[00:03:03] expectations, fell four business points to
[00:03:06] 1.82%. European stock features slipped
[00:03:10] 0.35%, indicating the lower open,
[00:03:13] bond prices also steadied after another brutal sell off this
[00:03:17] week. now the 10-year US treasury hits above
[00:03:21] 5% to its highest since 2007. now
[00:03:24] MSCI's
[00:03:25] of broadest index of Asian Pacific shares outside of Japan
[00:03:29] rose about 1%, tech heavy South Korea
[00:03:33] Kospy uh surged over 2%.
[00:03:37] Well crude oil prices are
[00:03:39] in failed 2% today extending losses for a third straight
[00:03:42] session as easing concerns over Saudi's supply
[00:03:46] disruption out weighted anxiety about the widening middle
[00:03:50] east conflict. United States West Texas
[00:03:53] of intermediate crude sells for
[00:03:56] of $99.88 with a
[00:03:57] of downward review of 1.99%. points brend good
[00:04:01] features experience a decline of
[00:04:03] 2.25% to trade at
[00:04:06] $102.50
[00:04:09] of for a barrel. Indian basket is also selling for
[00:04:12] $126.90 and it
[00:04:15] uh in green with a margin of
[00:04:17] 3.29%. For the OPEC basket, crudeol
[00:04:21] dealers
[00:04:22] of offer $124 for a
[00:04:24] of barrel with a price decline also in red
[00:04:27] 0.47%.
[00:04:32] Now we have two very important and interesting conversations for you
[00:04:35] today, so stay with us as we go on the show. Nigeria
[00:04:39] manufacturers are calling for a 1 trillion naira
[00:04:42] manufacturing stabilization fund to strengthen
[00:04:45] factories and sustain industrial production. The manufacturers
[00:04:49] association of Nigeria says the intervention will help
[00:04:52] boost uh bell businesses manage financing production
[00:04:56] pressures. The association says Nigeria's economic group. by
[00:05:00] 4.43% in the second quarter of 2026,
[00:05:04] while industrial sector stood at
[00:05:06] 3.96%. now he wants stronger support that
[00:05:10] man for local production to ensure economic
[00:05:13] growth translate into higher factory outputs, jobs and
[00:05:17] investments. the manufacturers are proposing that the fund be
[00:05:21] managed through the bank of industry with financing made
[00:05:25] available at lower interest rates. they are also seeking
[00:05:29] dedicated foreign exchange access for critical raw materials and
[00:05:33] machinery that are not produced locally. the
[00:05:36] association has also welcomed ongoing investments and interventions
[00:05:40] including the 75 billion na manufacturing fund
[00:05:44] and the Nigeria First Policy. They also
[00:05:48] say that effective implementation these measures will be
[00:05:51] important for straightening the manufacturing sector as the
[00:05:55] country moves into the fourth quarter of 2026. Well let's look at this
[00:05:59] issue and of course the larger economy. My guest is a friend the
[00:06:03] house, is a partner at SPM Professionals, Dr.
[00:06:07] Paul Alaji. He joins me live uh virtually
[00:06:11] live now. Thank you so much Dr. Alaji,
[00:06:15] it's good to see you, thank you so very much sir, thank you
[00:06:19] so much for having me, yeah uh, it's really good, I've been having you some
[00:06:22] time virtually, so I thought it was virtual, but you're live in our abuja studios
[00:06:26] today, not virtual, really good to see you, well before we get into our
[00:06:30] main conversation, I like to ask you of um
[00:06:34] this video I see everywhere and um and I think
[00:06:38] that video's been on for some time uh can we get
[00:06:42] some uh clarity with regards to this video and what you were
[00:06:46] speaking around uh Nigeria's economy at that time, please some
[00:06:50] clarity before we get into the manufacturers
[00:06:51] conversation, well thank you so very much, I think
[00:06:55] the video was in 2023 or
[00:06:59] 2024, and you know how vehement I was a
[00:07:02] time over the Nigeria economic situation at
[00:07:06] projected that um exchange rate may get to 1.5, I think
[00:07:10] in 2024 is devatually go to 19. and central
[00:07:14] bank did some level of intervention,
[00:07:17] think i justed some the assumptions, and we saw exchangeries
[00:07:21] started coming down today, it's about 1,320, which
[00:07:25] major improvement for where it was, so what i can tell you
[00:07:29] that we have relative stability now compared to as of that time
[00:07:33] when the video was made, and also saw the number for
[00:07:37] inflation, inflation as of that time was over
[00:07:40] 30%, inflation today after rebasing it's about
[00:07:44] 15% plus uh below 60 below
[00:07:47] 16%. i can also tell you about the issue of
[00:07:51] gdp growth rate, gdp has been rebased
[00:07:55] now uh it was as of that particular week where the video
[00:07:59] was made around 199 and nigeria has moved from
[00:08:02] fifth position is around third position and is important because i've
[00:08:06] received calls, messages from virtually all over
[00:08:10] the world in Europe. in Africa here and of
[00:08:14] course uh in Asia that hey please what's going on including some
[00:08:18] of other professional around the world who we actually trying to attract our
[00:08:22] country to come and invest, they are asking question that is the
[00:08:26] situation that bad we say yes that time that was the
[00:08:29] situation now there are some level of improvement and that is
[00:08:33] why your conversation today talking about the request from
[00:08:36] manufacturer association or manufacturers in Nigeria is very
[00:08:40] apt what we have seen now is that we have seen relative stability
[00:08:44] in exchange rate, we have seen relative stability in inflation, those are two major
[00:08:48] things that portfolio investor, foreign investors should see, i want to invest a
[00:08:51] country. the question many will now ask is that what are those things that are there now that
[00:08:55] are still here, now we see poverty rate according to world bank, in conjunction
[00:08:59] with IMF, we see have some institutional challenges, traditional challenges
[00:09:03] and some concerns around credical sector, and what
[00:09:07] can make us come out of all these will be one the things
[00:09:10] manufacturer is asking for one. trillion na is inira, not in dollar,
[00:09:14] yeah, one trillion naira would have lot of impact
[00:09:18] directly on what we need to do now, what should the
[00:09:21] administration be focusing anything that will gear
[00:09:24] productivity? the minister had mentioned that we had gain of about
[00:09:28] 15 trillionaire uh from subsidy removal and that was the
[00:09:31] report and presentation made to journalists. now of all these, even though
[00:09:35] the money is not sitting somewhere, but
[00:09:37] it is so apt if we consider creating a vote or
[00:09:41] creating. a program for manufacturers
[00:09:45] and like I mentioned in that viral video uh that when you look at China,
[00:09:49] when you look at Asia, why is China driving? China is
[00:09:52] driving because the energy the focus is on manufacturing,
[00:09:56] when you look at east Europe, eastern Europe, you see Germany
[00:10:00] there, Germany focuses on manufacturing,
[00:10:04] Nigeria manufacturers cannot be sandwich, when you look at trade according
[00:10:08] to B of statistics over 50%, app 60% is
[00:10:12] what contributed to a gd is
[00:10:13] what it is total contribution to gdp when you look at
[00:10:17] the the last gdp number 36% you look at what i did or
[00:10:21] service beg your pardon service and you look at agriculture primary
[00:10:25] but the key sector where a lot of people can be engaged, where
[00:10:29] people can feel the impact is manufacturing. we understand that
[00:10:33] government has to perform some regulatory roles, provide
[00:10:36] security and all of those things for life, but support for
[00:10:40] those who would help poverty, reduce poverty
[00:10:44] rate, they will come majorly from manufacturers, because when we
[00:10:47] support and we we were able to produce some the things that we consume, even
[00:10:51] export, which i think is even the ultimate goal here. beyond what we
[00:10:55] consume even export to compete internationally that we have more
[00:10:59] impact a foreign exchange and i should also say
[00:11:01] that as of that time when the video was made foreign exchange in Nigeria was less than
[00:11:05] 40 billion today it's over 55 billion so I must
[00:11:09] acknowledge some of those major progresses that we have
[00:11:12] made so we have seen macroeconomic variables as largely
[00:11:16] stabilized but the macro indicators
[00:11:19] st suffers so how we get to transfer
[00:11:23] now what we need now is transformation because from stability you get to
[00:11:26] transformation then the people will see prosperity, that's how people come from
[00:11:30] economic crisis, economic crisis, you need to stabilize it after
[00:11:33] stability, you need to go to transformations, transformation, prosperity will come, while
[00:11:37] a second phase of stabilization, which is good, how do we move from
[00:11:41] stabilization to uh provide going to
[00:11:44] transformation? one key thing out of other things is
[00:11:48] transformation, what we help the administration and entire Nigeria, beg your
[00:11:52] pardon to see this transformation will be if we can improve on our
[00:11:56] productivity, even if we pay level 500 thousand, tell you not
[00:12:00] so much will change, because if you are not producing more, if we are not increasing our
[00:12:04] output as nation, either for domestic or foreign consumption or for
[00:12:08] for foreign juice, the truth is that as matter of time these will fail
[00:12:11] inflation, poverty will rain supreme, so how we move this
[00:12:15] to individuals that need this the most is to ensure that we improve
[00:12:18] productivity and productivity especially for firms
[00:12:22] which of course sits for close economy. in the middle where that's
[00:12:26] consumption and government is sits in the middle, that's industry, that's
[00:12:29] firms, so I totally support the request for
[00:12:33] manufacturers association of Nigeria or Nigerian manufacturer generally that this
[00:12:37] support is long over dude, if truly we want to mitigate the
[00:12:41] impact of exchange rate pass through, then we must
[00:12:45] be able to produce somethings in larger quantity
[00:12:48] locally, and I think government will also need to look at even policies
[00:12:52] that uh that affects manufacturer, one them of course is energy and if you
[00:12:56] check the recent report from bureau statistics, the Q1 report shows energy
[00:13:00] sector, power sector reported negative, the second quarter, energy
[00:13:04] sector, that's power sector, also reported negative, you know what that means in economics,
[00:13:08] it means that power sector is technically a recession, permit me to use the
[00:13:12] word technically in recession, even though the economy is not in recession, so
[00:13:15] if if and if energy does not work properly, if it is not
[00:13:19] positive, if it's not growing, definitely it will still affect what
[00:13:23] a manufacturer product because is key ingredient beyond all
[00:13:27] the input that of course the cost we are spending is between 17 to 18 trillion
[00:13:30] i uh for us to import some of those raw materials because what we
[00:13:34] produce from our farms are output but what is more important at
[00:13:38] this moment today is those raw material that is usable for industry so that
[00:13:42] they don't become muribon they don't become redundant we need to do something really
[00:13:46] critically about uh raw materials that we
[00:13:49] can that of course should be made available in Nigeria that largely will
[00:13:53] improve employment that will improve growth beyond
[00:13:56] 4.43% which we have, it will, it will improve it
[00:14:00] sporadically, and we are going to see even stability that is moving
[00:14:04] forward beyond stability to transformation, and eventually when
[00:14:07] transformation persis, perhaps for few years, you're going to see
[00:14:11] prosperity. great stuff, a great breakdown, as always
[00:14:15] dr. alaji, given Nigeria's fiscal constraints,
[00:14:19] debt service bording on one side, now where should government
[00:14:22] realistically source this funds from? uh such
[00:14:26] without wasting inflation and of course maybe budget
[00:14:29] deficit. yeah,
[00:14:33] thank you so much. that's that's the question I expect to follow, where will the money
[00:14:37] come from? quite a lot of places. um, if you look at the gain
[00:14:41] we've made from uh subsidy removal and the gain we've
[00:14:45] made from um unification of
[00:14:49] the naira and devaluation of naira that follows it. uh, we have seen
[00:14:53] that what is shared at the... fac has gone to trillion,
[00:14:57] so from fac level, which of course federal state and
[00:15:00] also all of those, this money is not a dash,
[00:15:03] it is money to be paid back although with low interest rates, if if
[00:15:07] the if the entire country agrees and mean our leaders agree that
[00:15:11] this is as important as anything is deducted,
[00:15:14] it is given to back of industry which i think it should be, the money can
[00:15:18] go to qualified members based on the rules and
[00:15:21] anybody from sokoto to badagri from
[00:15:30] can participate all across Nigeria, people, I mean
[00:15:34] businesses, industry can participate in this one trillion.
[00:15:38] support and i don't think it's entirely be free, it could
[00:15:42] be paid back over time, but i'll
[00:15:45] be it with single digit interest rate, properly speaking with about 6% interest rate
[00:15:49] with the the the bank managing that
[00:15:53] not to get beyond 2% for administrative charges and the money
[00:15:56] can go back uh to to perhaps the federation account or
[00:16:00] government, whichever we central bank we work that out and i also
[00:16:04] know that beyond even the fact central bank is another b that can
[00:16:08] give this facility at very low interest rate, we we, i
[00:16:12] don't want to pick all the technicalities as to what happen
[00:16:15] to um uh cash reserve requirement and
[00:16:19] so on and so forth, so can the money be raised if it is not a
[00:16:23] dash, if it is not that we are giving this money out to manufacturer, the
[00:16:27] answer is yes, do we have the will to do this so that
[00:16:31] we can boost production sporadically in Nigeria, well that is what I cannot
[00:16:35] answer here, but I can tell you that - we do have the will,
[00:16:38] you are going to feel the impact in output, you are going to feel the
[00:16:42] impact in economic growth, you are going to feel the impact in
[00:16:46] improvement in employment, you are going to feel the impact in trade
[00:16:50] surplasses, you're going to feel the impact in further currency stability,
[00:16:54] you are going to feel the impact in in
[00:16:57] economic transformation, so if we do this and and i
[00:17:01] think that the modest amount anybody can talk about is 1 trillion na, if
[00:17:05] you truly want to speak in the resets of it. should be more than the amount that
[00:17:08] manufacturers has put
[00:17:10] forward.
[00:17:14] all right, mr. laje, uh, moving forward uh in
[00:17:17] this conversation now, i like us to speak to
[00:17:21] the challenges of high energy cost, foreign exchange
[00:17:24] volatility uh, that um, expensive raw materials and
[00:17:28] multiple taxes. now, which these problems puses
[00:17:32] the the greatest threat to the survival and competitiveness of nigerian industries
[00:17:36] and why? I will start with what
[00:17:40] we can control before I go to what we cannot control, what can we control?
[00:17:44] we can control multiple taxation, we have tax
[00:17:48] law which is the act, and and I think that one
[00:17:52] the things we need to review quickly is what affects manufacturer, because if you want to
[00:17:55] truly be engine of growth for Africa and we want manufacturer to be
[00:17:59] the manufacturing to be the engine of growth for our country, we need to look at
[00:18:03] excessive taxes or manufacturer and multiple taxation
[00:18:07] in. that is currently a challenge. I understand the manufacturers
[00:18:10] were consulted, number of persons were consulted at different
[00:18:14] window uh by the committee. It was an extensive job that was
[00:18:18] done at that time, but like we all knew that tax reform
[00:18:21] cannot be a one of thing, it has to be a continuous thing. And I want to
[00:18:25] advise manufacturer to approach government again, that is if they've not done
[00:18:29] that, to look at key area that is putting board in or manufacturing,
[00:18:33] especially importing raw materials. That is on the short run which I
[00:18:37] think. can do a matter of months, the one I think we might take
[00:18:41] us year or two is to design a program to look at what are
[00:18:44] those raw materials that we import the most and we are able to
[00:18:48] produce them locally, maybe by producing by
[00:18:52] providing uh technical, technological and technical support
[00:18:56] to ensure that we don't necessarily need to import these things
[00:18:59] from Karno to kaduna to just to benway uh some these
[00:19:03] material that are available in the middle b part of Nigeria in the...
[00:19:07] in the call northern part of Nigeria, can we make these things
[00:19:11] available? and the truth is that often time people say that,
[00:19:15] oh now it is everyone for itself, private sector should
[00:19:18] figure it out, they will figure it out on inflation, they will figure it
[00:19:22] out on increase poverty, they figure it out with more people
[00:19:26] becoming deprived, and as though that will not be enough, if you don't take quick
[00:19:30] decision on time, it will be figured out by having
[00:19:34] more import dependency and of course everybody will be thrown
[00:19:38] back, the game we have seen in relative stability, we might to go back economic
[00:19:42] crisis, because economics you are not permitted to stay in one zone,
[00:19:46] we have moved from crisis to relative stability, we can either
[00:19:49] progress to transformation or we go back economic crisis,
[00:19:53] so but we don't want
[00:19:54] to go back to the left, we want to proceed to the right, in proceeding to the
[00:19:58] right we need to do key things, how did China do it and now
[00:20:02] what has Indonesia done? I will share the two with you here today,
[00:20:05] first when China's started the policy of hom giving
[00:20:09] people some moneys and say we are going to support you conditional cash
[00:20:13] transfer, it never worked until china knew that see because of our
[00:20:17] population we need to get these people engaged,
[00:20:20] manufacturing we started seeing GDP growth rate of Chinese uh
[00:20:24] China economy, it grew to about four, five 6%, but beyond all of
[00:20:28] those government started supporting private sector for manufacturing and that
[00:20:32] was evident in government literary building factories, literally
[00:20:36] building factories, then sell give condition to those factory that we have
[00:20:40] another factory selling equipment you need to import, other factory
[00:20:43] selling the manufacturing item that you need and the banks were designed in that
[00:20:47] way, so if you want to collect facility from bank the... question is where are you
[00:20:51] sourcing your imports? those are available in the country were prioritized, they
[00:20:55] are not saying don't import, but you were prioritized, so because they were
[00:20:58] prioritized, access to uh liquidity and
[00:21:02] credit were much more facilitated, and this is where we need to
[00:21:06] converge in terms of trade, fiscal and monetary
[00:21:09] authority so that we can support local businesses, especially
[00:21:13] manufacturing sector, which we all know is is the real engine of
[00:21:16] growth, because when they expand banking, which
[00:21:19] of course is service we expand, telecom we expand, insurance we
[00:21:22] expand, and those who are also in primary sector, including manufacturing,
[00:21:26] agriculture, oil and gas, etc., etc., we expand, all of
[00:21:30] us we serve, we will serve the middle point, which is the
[00:21:34] manufactur and as manufacturing growth trade we expand, we are going to be a
[00:21:38] large economy, can we achieve it? the answer is yes,
[00:21:42] but we need those in administration, governments to take key
[00:21:46] decisions around identifying key production zones, provide
[00:21:50] support with energy, support with policy, and if we need
[00:21:54] be support those manufacturers directly by looking at
[00:21:58] how and what we want the direction of a manufacturing to
[00:22:02] go and what we want it to be. one the things we need to look at very quickly
[00:22:05] is is the cost of energy, which is another factor. i
[00:22:09] understand that it's it's on the table, perhaps we will entirely remove
[00:22:13] subsidy on energy, as sweet as it sound that we should remove
[00:22:16] subsidy, and
[00:22:17] there economic model for it that when you re subsidy you are going to
[00:22:21] see your economic grow now that that uh that
[00:22:25] uh equation economics there a lot that are
[00:22:28] defect that are there a lot of deficiency with it because
[00:22:32] that of course we ensure that you have more poor people automatically except and
[00:22:36] unless your economy has grown to point or your economy is already able
[00:22:40] to produce some things that can mitigate uh how poverty may
[00:22:44] show up but if you are not able to do that it's important that we first provide
[00:22:48] such support for man off. trying to produce to point where
[00:22:51] majority of our population are employ and this is what we need to
[00:22:55] look at. when you look at Nigeria labor force, according
[00:22:58] to uh the bureau of statistics our labor force is already
[00:23:02] small, iimated out of about 230 million
[00:23:06] estimated population figure, how many people are within our labor force? less than
[00:23:09] 80 million people, properly speaking about 70, 75 million people,
[00:23:13] but what i can tell is about less
[00:23:14] than 80 million people, the last time i checked the numbers, now these less than
[00:23:18] 80 million people, how many? people get work up
[00:23:22] to one hour a week, if you check, even let's assume everybody
[00:23:26] gets work, but you are going to service uh 130 million
[00:23:30] people, if you remove 80 million and this is being charitable, you have
[00:23:33] 150 million that are either too old to work or too young to
[00:23:37] work, so how can look at the proportion, it's not proportionate at all,
[00:23:41] and what matters the most is the people, so we need to look from the area of
[00:23:44] taxes after that we need to look at energy sources
[00:23:48] which is really very... important and we also need to look at how to possibly
[00:23:52] substitute if possible uh those uh items that we're
[00:23:56] importing from abroad and make them available this moment today
[00:24:00] and most importantly government must provide support, it's
[00:24:04] a must provide support through bank of industry and
[00:24:08] if it's going to be for raw materials, bank of agriculture
[00:24:12] could also be of of high importance, but i don't
[00:24:16] think this facility of support should come through any commercial bank because of
[00:24:20] commercial rate, even if it comes through commercial bank, it cannot be on commercial
[00:24:24] rate, it is not what we can survive, look at what NPR
[00:24:27] is today at over 26%, 76.5%, and if let's
[00:24:31] assume NPR comes to 26% or even 25%,
[00:24:35] what will lending rate be, lending rate is still going to be relatively
[00:24:39] high compared to those are manufacturers are competing with, also look
[00:24:43] at the economic environment, are we seeing what is happening
[00:24:47] between Ukraine,
[00:24:48] I mean sorry Ukraine and Russia, Iran and America and
[00:24:51] Israel and look at
[00:24:52] all of those that is going on in geopolitics in the middle east and look at what is going on in the
[00:24:56] eastern Europe when you compare all these together we definitely
[00:25:00] have impact on the economy and what is the impact high diesel
[00:25:04] prices, high petroleum, uh petroleum product
[00:25:08] prices, they have significant on our industry and our industry is impacted, the
[00:25:12] truth is that going to have inflation on prices, whether inflation get to
[00:25:15] 16, 20, 30, 50%, it's a different kettle of fish,
[00:25:19] what you are. I know that the impact will surely be felt by our
[00:25:22] pockets. Indeed, it will be felt by our pockets. Well, I think
[00:25:26] it's a good way uh for us to leave it. It's been an interesting
[00:25:29] conversation as always. Dr. Paul Alaji, always nice having to talk
[00:25:33] to you uh, the partner, SPM professionals, do
[00:25:37] have a great weekend and enjoy yourself.
[00:25:41] Thank you so much for having me. All
[00:25:45] right, still to come on the program, let's do a further breakdown of August
[00:25:49] 2026 in. figures, I'm sure you saw those figures, but let's do
[00:25:53] a further breakdown and also economic outlook for the last quarter
[00:25:57] of 2026, it's a pre-election year and lot of conversations around
[00:26:01] what is playing out uh and the as we move to the end the year, my
[00:26:04] next guest is the founder, chief executive officer,
[00:26:08] carry assets management Limited, Mr.
[00:26:12] Johnson Chuku, he joins after this break, don't go away, this
[00:26:16] is Business Nigeria, stay with
[00:26:17] us.
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[00:30:18] At TVs and news, wherever the big news stories
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[00:30:27] Britain.
[00:30:48] Many thanks for joining us on TBC News, this are six
[00:30:52] persons have been killed and two others injured in accident
[00:30:56] along kaba road in kababuno local government area of